Another acquisition and another fundraise from Hipgnosis – Hipgnosis has acquired 100% of Bob Rock’s producer rights for Metallica’s ‘Metallica’ and Michael Bublé’s ‘Call Me Irresponsible’, ‘Crazy Love’, ‘Christmas’ and ‘To Be Loved’, which in total comprise 43 songs. It has also announced an issue of ordinary shares at 121p and plans to issue more C shares. More information on this will be published in a circular, which is awaiting approval by the FCA. Readers should also note that the NAV has fallen, mainly as a result of the pound strengthening against the dollar. The NAV has fallen from 125.3p to 118.3p. There is a quarterly interim dividend of 1.3125p payable on 18 February.
About Bob Rock
Bob Rock started his collaboration with Metallica in 1990, co-producing their US diamond-certified (16x platinum) self-titled album, most commonly referred to as ‘The Black Album’. ‘The Black Album’ was the pivotal moment in Metallica’s evolution into the premier heavy metal band and, as one of the bestselling albums of the last 30 years, launched the band into true mainstream global superstardom. Debuting at Number 1 in 10 countries, the album spent four weeks at the top of the Billboard Top 200 and in December 2019 became the fourth release in history to enter its 550th week on the Billboard 200. Achieving widespread commercial acclaim, ‘The Black Album’ was named Number 255 by Rolling Stone in their “500 Greatest Albums of all Time” chart. Its five singles ‘Enter Sandman‘, ‘The Unforgiven‘, ‘Nothing Else Matters‘, ‘Wherever I May Roam‘, and ‘Sad but True‘ are all considered to be among Metallica’s best-known songs. Songs from the album have been streamed more than seven billion times across all services, just in time to celebrate its 30th Anniversary.
Bob Rock is a long-time collaborator with Michael Bublé, having produced his album ‘To Be Loved’ in its entirety and produced key tracks on a further three of his albums: ‘Call Me Irresponsible’, ‘Crazy Love’ and ‘Christmas’. ‘Call Me Irresponsible’, released in 2007, was a global success and was Michael Bublé’s first Number 1 album after topping the charts in eight countries including the US, where it is certified platinum. The album received widespread critical acclaim including winning the Grammy Award for “Best Traditional Pop Vocal Album”.
Rock’s next release with Michael Bublé, ‘Crazy Love’ debuted at Number 1 in both the US and UK. The album is multi-platinum all over the world including the UK, where it is 10x platinum, having sold over 3 million copies, and the US, where it is 2x platinum. ‘Crazy Love’ won Michael Bublé his second Grammy Award for “Best Traditional Pop Vocal Album” in 2010. The album included the original hit single ‘Haven’t Met You Yet‘ which is certified platinum in both the US and UK.
In 2011, Michael Bublé released the now classic album ‘Christmas’, which defines our festive season each year. An instant success, ‘Christmas’ was a Number 1 all over the world, including in the US where it spent five weeks at the top of the Billboard Top 200, and has sold an astonishing 12 million copies since its release in addition to being streamed more than 5 billion times across all services. ‘Christmas’ has been the highest charting Christmas album of the 2020 holiday season. It was the Number 1 album in the UK this Christmas as well as on Spotify’s Global Albums chart and it spent the last two weeks of December at Number 4 on the Billboard Top 200, after re-entering the chart in early November. Rock produced five songs on the album including ‘All I Want For Christmas Is You‘.
‘To Be Loved’, released in 2013, was Michael Bublé’s fourth consecutive US Number 1 album. As well as topping the charts in a further 17 countries, ‘To Be Loved’ won Michael Bublé his fourth Grammy Award for “Best Traditional Pop Vocal Album”.
Update 22 January
The prospectus was published yesterday as promised. It provides for the issue of up to 500m ordinary shares at 121p and up to 1bn C shares at 100p. The ordinary share issue runs from now until 5 February. The C share issues can happen any time up until 20 January 2022.
SONG : Another acquisition and another fundraise from Hipgnosis